GOVE/NEW DELHI (Reuters) – Hurt by high fuel prices, Vinod Gore, a farmer in Gove village in the western Indian state of Maharashtra, ditched his petrol scooter for an electric model, underlining how two-wheelers are driving the country’s goal of electrification of its vehicles.
Gore’s electric scooter, built by Indian start-up Okinawa, runs for about 100-120 km (60-75 miles) on a single charge which costs the sugarcane farmer less than 10 percent of the 150 rupees ($2.15) he would otherwise have spent on fuel for the same distance.
Money - Gore - Rupees - Scooter - Cost
“I bought it to save money,” said Gore, who paid 75,000 rupees ($1,077) for the scooter and expects to recover the cost in two to three years in terms of savings on petrol and maintenance.
Prime Minister Narendra Modi’s government has set a target of electric vehicles making up 30 percent of new sales of cars and two-wheelers by 2030 from less than 1 percent today.
Efforts - Carmakers - Vehicles - Policy - Manufacturing
But its efforts to convince carmakers to produce electric vehicles have flopped mainly because of no clear policy to incentivize local manufacturing and sales, lack of public charging infrastructure and a high cost of batteries.
Cost-conscious two-wheeler buyers like Gore might be a better bet. It would also open up a new market for global companies like Japan’s Yamaha Motor and Suzuki Motor that are drawing up initial plans to launch electric scooters and motorcycles in the country.
Potential - India - World - Market - Scooters
The potential is huge. India is the world’s biggest market for scooters and motorcycles with annual domestic sales exceeding 19 million in the fiscal year ended March 31, 2018 – six times that of car sales over the same period.
The next biggest market is China, with annual motorcycle sales of about 17 million in 2017.
Electric - Scooters - Fraction - Total - Sales
Electric scooters make up a fraction of the total but are growing fast. In fiscal 2017-18, sales more than doubled...
Wake Up To Breaking News!